International tax

Tax / US tax reform passes through House in milestone vote

The US House of Representatives has passed a bill opening the way to a major reform to the US tax code, including slashing the corporate tax rate, in a milestone vote which means the focus for President Donald Trump’s promised tax overhaul now moves to the Senate

Tax / Requirement to Correct tax due on offshore assets

HMRC has issued guidance on how to comply with new Requirement to Correct rules designed to clamp down on individuals with undeclared offshore assets and highlighting the penalties for non-compliance

Tax / Glassey: Paradise Papers put spotlight on offshore financial centres

The revelations and hyperbole around the Paradise Paper undermine the value of using offshore financial centres, where levels of transparency are arguably no worse than elsewhere in the world, despite the efforts of governments to demand more openness, argues Will Glassey, partner at Mayer Brown

Tax / HSBC to pay €300m to settle tax evasion charges

HSBC has agreed to pay €300m (£266m) to the French authorities to settle a long-running investigation into tax evasion by French citizens via its private bank in Switzerland, details of which were first leaked by one of the bank’s former IT employees

Tax / The practicality of publishing tax strategies for multinationals

As rules stating large companies must disclose their tax strategies commence, Calum Fuller speaks to companies including SSE and Informa about how they are interpreting the requirements

Tax / EU seeks quick agreement on tax avoidance curbs after Paradise Papers

Rules requiring tax advisers to report tax planning arrangements should be agreed and a blacklist of tax havens drawn up after the revelations contained in the Paradise Papers, according to the European Commission’s tax commissioner

Tax / Canada plans to introduce tax on cannabis

The Canadian government is consulting on proposals to tax cannabis products, saying its current approach to the drug is not working and it is committed to legalising, regulating and restricting access to cannabis to keep it out of the hands of children, and profits out of the hands of criminals

Tax / Corporation tax loss relief rules: what you need to know

Lindsay Buckenham, tax director and Ben Moseley, partner at Deloitte, seek to demystify the biggest change to the UK’s corporation tax loss relief rules in a generation

Tax / When is a trust not a trust?

With the furore over the release of the Paradise Papers highlighting the widespread use of aggressive tax avoidance, Susan Rosser, partner and Gemma Rochelle, senior associate, litigation dispute resolution at Mayer Brown International LLP examine the risks of discretionary trusts in light of the long-running Pugachev litigation

Tax / Moore Stephens to ramp up US tax expertise in UK

The Moore Stephens accountancy network is planning to tap into what it sees as a under-developed market for offering US tax services from London, with a new hire from Deloitte US at the helm, who has joined as the US tax season starts

Tax / EU looking to scrutinise Apple’s tax arrangements

Tech giant Apple’s tax arrangements are in the spotlight once more, as leaked documents from the Paradise Papers outline how the company sought to locate a new low tax jurisdiction after the EU brought pressure on Ireland to end a so-called ‘sweetheart deal’, while the EU is set to re-examine the Irish arrangements

Tax / Paradise Papers give HMRC more ammunition to curb offshore tax evasion

The Paradise Papers information leak will provide HMRC and other global jurisdictions with further ammunition in the ongoing war against offshore tax evasion, warns Blick Rothenberg

Tax / Jimenez case: HMRC powers stop at the border

The landmark Jimenez ruling, handed down on 20 October 2017, has clarified once-and-for-all that the degree to which HMRC can investigate the tax affairs of overseas individuals is much reduced, says Steve Thomas, solicitor at Excello law and representative of the appellant

Tax / OECD updates transfer pricing country profiles

The OECD has published updated versions of transfer pricing country profiles (TPCP), reflecting the current transfer pricing legislation and tax practices in 31 countries

Tax / Paradise Papers shine spotlight on celebs' tax

Further revelations from the so-called Paradise Papers leaked from law firm Appleby have raised questions about tax strategies used by some celebrities, including Formula One racing star Lewis Hamilton and members of the cast of hit BBC sitcom Mrs Brown’s Boys